Today Stock News – 21.03.2018
* ASHOKA BUILDCON: Declared the lowest bidder by the Ministry of Road Transport and Highways for two road projects in Maharashtra.
* ASIAN OILFIELD SERVICES: Approved allotment of 4.5 mln shares on preferential basis to warrant holders, at an
* ISHAN DYES & CHEMICALS: Approved raising up to 200 mln rupees through rights issue of shares.
* JINDAL STEEL & POWER: The company's qualified institutional placement opened on Tuesday with a floor price of 227.15 rupees per share.
* KOTAK MAHINDRA BANK: Is evaluating all available options to cut promoter holding in the bank to 20% by Dec 31, Managing Director Uday Kotak said.
* LARSEN & TOUBRO: RELIANCE INFRASTRUCTURE, Afcons and the company, are in fray for Yogi Adityanath governments flagship Purvanchal Expressway project, which is estimated to cost 190 bln rupees.
* L&T FINANCE HOLDINGS: Arm L&T Infrastructure Finance Co sold its stake in Feedback Infra Private to private equity firm ADV Partners for 6.85 bln rupees.
* LAKSHMI VILAS BANK: Tied up with Fisdom to enable the company's customers to invest in the National Pension System in a digital and paperless format.
* MAHINDRA & MAHINDRA: Gromax Agri Equipment, jointly-owned by the company and Gujarat government, has launched Trakstar range of tractors at 425,000 rupees in Maharashtra. The company's utility vehicle Bolero has made it to the top ten bestselling passenger vehicles list, which continues to be dominated by MARUTI SUZUKI INDIA that got 6 out of the 10 slots in February.
* MERCATOR: Entered into a pact with Hong Kong-based Best Oasis to sell its vessel M.V. Vrinda for $4.25 mln.
* MPHASIS: Announced a strategic partnership with Plug and Play Tech Centre to offer mentoring support to technology start-ups.
* THE NEW INDIA ASSURANCE CO: Chairman and Managing Director G. Srinivasan hinted the insurer may hike mediclaim premiums if a new norm to cover genetic disorders leads to a rise in cost.
* NEWGEN SOFTWARE TECHNOLOGIES: Wholly-owned subsidiaryNewgen Software Inc launched a mobile medicare enrolment solution for the US.
* PUNJAB NATIONAL BANK: Investigations into the bank's fraud have found some employees had created assets and maintained bank accounts abroad. The bank is considering legal proceedings against errant employees. The bank issued a total of 19,512 Letters of Undertakings from 2011 up to 26 May, 2014, when the UPA government was in power, finance minister Arun Jaitley said.
- Has embarked on Mission Parivartan, a 10-pronged transformation strategy to strengthen one of the oldest public sector banks in India on all counts. Mehul Choksi, has once again refused to join the ongoing probe by the Central Bureau of Investigation in the bank's fraud case.
* RAYMOND: Board will meet on Friday to consider raising up to 1 bln rupees via non-convertible debentures on a private placement basis.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm has approached the telecom tribunal seeking to be impleaded in a case filed by rivals BHARTI AIRTEL and IDEA CELLULAR against a recent predatory pricing order by the Telecom Regulatory Authority of India.
- Arm Reliance Jio Infocomm has said its board will meet on Mar 23 to consider raising 200 bln rupees through debt in tranches. Arm Reliance Jio Infocomm topped the Telecom Regulatory Authority of India's 4G mobile data speed test in 2017.
* RPG LIFE SCIENCES: Promoter Harsh Vardhan Goenka, as trustee of Nucleus Life Trust, will acquire 32.86% stake or 5.43 mln shares from another promoter Chattarpati Apartments LLP.
* SKF INDIA: Appointed Carl Orstadius as managing director for one year effective Apr 1, or from the date of receipt of employment visa, whichever is later.
* SHRIRAM TRANSPORT FINANCE CO: Raised 7.5 bln rupees through non-convertible debentures maturing in 545 days, at a coupon rate of 8.15%.
* STATE BANK OF INDIA: Moved the Supreme Court seeking to be heard in a dispute over sale of assets by RELIANCE COMMUNICATIONS, which had been denied permission to sell assets by the Bombay High Court.
* TATA CONSULTANCY SERVICES: Installed its banking software TCS BaNCS at Saudi Real Estate Refinance Co.
* TATA TELESERVICES (MAHARASHTRA): American Tower Corp has dismissed a request by the company to waive almost 20 bln rupees in early tenancy termination penalties, setting the stage for protracted negotiations that may delay BHARTI AIRTEL's takeover of the Tata Group's wireless business.
* TRANSPORT CORP OF INDIA: Acquired a new ship--DWT 26262--for 488 mln rupees to enhance its capacity in India's west coast.
* ULTRATECH CEMENT: Lenders to Binani Cement will face further delay in recovering their debt as promoter BINANI INDUSTRIES is keen on selling the debt-laden subsidiary to the company, instead of the bidder selected through the insolvency resolution process.
* UNITED BANK OF INDIA: Will recall four of its Basel III-compliant additional tier-I bonds on Apr 11, ahead of its scheduled call date, as the bank has been placed under the Reserve Bank of India's prompt corrective action plan.
* UTTAM GALVA STEELS: ArcelorMittal, one of the two key contenders for Essar Steel, is likely to remit 30 bln rupees to the company to settle its dues with lenders.
* VEDANTA: The board will meet on Friday to consider raising up to 45 bln rupees via non-convertible debentures in tranches.
* V-MART RETAIL: Conquest Business Services, a promoter group entity, will acquire a 41.38% stake or 7.49 mln shares in the company from promoters Lalit Agarwal, Sangeeta Lalji Agarwal, Madan Gopal Kandoi, Uma Devi Agarwal, and Madan Gopal Agarwal HUF.
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* ASIAN OILFIELD SERVICES: Approved allotment of 4.5 mln shares on preferential basis to warrant holders, at an
* ISHAN DYES & CHEMICALS: Approved raising up to 200 mln rupees through rights issue of shares.
* JINDAL STEEL & POWER: The company's qualified institutional placement opened on Tuesday with a floor price of 227.15 rupees per share.
* KOTAK MAHINDRA BANK: Is evaluating all available options to cut promoter holding in the bank to 20% by Dec 31, Managing Director Uday Kotak said.
* LARSEN & TOUBRO: RELIANCE INFRASTRUCTURE, Afcons and the company, are in fray for Yogi Adityanath governments flagship Purvanchal Expressway project, which is estimated to cost 190 bln rupees.
* L&T FINANCE HOLDINGS: Arm L&T Infrastructure Finance Co sold its stake in Feedback Infra Private to private equity firm ADV Partners for 6.85 bln rupees.
* LAKSHMI VILAS BANK: Tied up with Fisdom to enable the company's customers to invest in the National Pension System in a digital and paperless format.
* MAHINDRA & MAHINDRA: Gromax Agri Equipment, jointly-owned by the company and Gujarat government, has launched Trakstar range of tractors at 425,000 rupees in Maharashtra. The company's utility vehicle Bolero has made it to the top ten bestselling passenger vehicles list, which continues to be dominated by MARUTI SUZUKI INDIA that got 6 out of the 10 slots in February.
* MERCATOR: Entered into a pact with Hong Kong-based Best Oasis to sell its vessel M.V. Vrinda for $4.25 mln.
* MPHASIS: Announced a strategic partnership with Plug and Play Tech Centre to offer mentoring support to technology start-ups.
* THE NEW INDIA ASSURANCE CO: Chairman and Managing Director G. Srinivasan hinted the insurer may hike mediclaim premiums if a new norm to cover genetic disorders leads to a rise in cost.
* NEWGEN SOFTWARE TECHNOLOGIES: Wholly-owned subsidiaryNewgen Software Inc launched a mobile medicare enrolment solution for the US.
* PUNJAB NATIONAL BANK: Investigations into the bank's fraud have found some employees had created assets and maintained bank accounts abroad. The bank is considering legal proceedings against errant employees. The bank issued a total of 19,512 Letters of Undertakings from 2011 up to 26 May, 2014, when the UPA government was in power, finance minister Arun Jaitley said.
- Has embarked on Mission Parivartan, a 10-pronged transformation strategy to strengthen one of the oldest public sector banks in India on all counts. Mehul Choksi, has once again refused to join the ongoing probe by the Central Bureau of Investigation in the bank's fraud case.
* RAYMOND: Board will meet on Friday to consider raising up to 1 bln rupees via non-convertible debentures on a private placement basis.
* RELIANCE INDUSTRIES: Subsidiary Reliance Jio Infocomm has approached the telecom tribunal seeking to be impleaded in a case filed by rivals BHARTI AIRTEL and IDEA CELLULAR against a recent predatory pricing order by the Telecom Regulatory Authority of India.
- Arm Reliance Jio Infocomm has said its board will meet on Mar 23 to consider raising 200 bln rupees through debt in tranches. Arm Reliance Jio Infocomm topped the Telecom Regulatory Authority of India's 4G mobile data speed test in 2017.
* RPG LIFE SCIENCES: Promoter Harsh Vardhan Goenka, as trustee of Nucleus Life Trust, will acquire 32.86% stake or 5.43 mln shares from another promoter Chattarpati Apartments LLP.
* SKF INDIA: Appointed Carl Orstadius as managing director for one year effective Apr 1, or from the date of receipt of employment visa, whichever is later.
* SHRIRAM TRANSPORT FINANCE CO: Raised 7.5 bln rupees through non-convertible debentures maturing in 545 days, at a coupon rate of 8.15%.
* STATE BANK OF INDIA: Moved the Supreme Court seeking to be heard in a dispute over sale of assets by RELIANCE COMMUNICATIONS, which had been denied permission to sell assets by the Bombay High Court.
* TATA CONSULTANCY SERVICES: Installed its banking software TCS BaNCS at Saudi Real Estate Refinance Co.
* TATA TELESERVICES (MAHARASHTRA): American Tower Corp has dismissed a request by the company to waive almost 20 bln rupees in early tenancy termination penalties, setting the stage for protracted negotiations that may delay BHARTI AIRTEL's takeover of the Tata Group's wireless business.
* TRANSPORT CORP OF INDIA: Acquired a new ship--DWT 26262--for 488 mln rupees to enhance its capacity in India's west coast.
* ULTRATECH CEMENT: Lenders to Binani Cement will face further delay in recovering their debt as promoter BINANI INDUSTRIES is keen on selling the debt-laden subsidiary to the company, instead of the bidder selected through the insolvency resolution process.
* UNITED BANK OF INDIA: Will recall four of its Basel III-compliant additional tier-I bonds on Apr 11, ahead of its scheduled call date, as the bank has been placed under the Reserve Bank of India's prompt corrective action plan.
* UTTAM GALVA STEELS: ArcelorMittal, one of the two key contenders for Essar Steel, is likely to remit 30 bln rupees to the company to settle its dues with lenders.
* VEDANTA: The board will meet on Friday to consider raising up to 45 bln rupees via non-convertible debentures in tranches.
* V-MART RETAIL: Conquest Business Services, a promoter group entity, will acquire a 41.38% stake or 7.49 mln shares in the company from promoters Lalit Agarwal, Sangeeta Lalji Agarwal, Madan Gopal Kandoi, Uma Devi Agarwal, and Madan Gopal Agarwal HUF.
